Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-07-22
1bo Ridd,eberoer Bill-Again

| fiOn OF certain newspapers ana writers
Tor tho Democratic press in reference
TO the State debt.
| On one side it is urged that the Gre
ditoTs, having refused 20 accept the
| Riddlebcrger settlement and the Fede-
raj courts having declared the legisIs-
| ton intended To intercept the coupons
on their way TO the treasury unconstl-
tutiCn2l, the law 10 "as dead as the or
dinspce OF secession and should
therefore be abandoned and new pro-
position made acceptable to the ere
ditors, providing for the payment OF
larger amount of principal or interest.
or, if We may judge by the demands
lately mide 10y the English commits
sioncrs, providing for more OF both
principal and interest.
The other side allegc, since the Gre
ditcrs have refused for more than five
wears TO accept the terms offered by
| thstact, and are still seeking to destroy
| the life Of the State, the latter is
thereby absolyed from call the obliga-
ton which it contains and
the people RENTED to tseir sovereign
night to settle tho debt in their own
wsv, free from any cOnstraint but what
| thsv themselves shall choose to assume
,s their moral duty, aud not their legal
| obligation, and it is suggested that the
people may, as "thcir moral duty, as
sumo to pay six or seven or perhaps
twelve million dollars, or refuse to pay
ANYTHING and refer the creditors to the
United States, who despOiled them, for
payment. Both would abandon the
Riddleberger settlement, but for oppo-
site reasons. Neither has anything to
propose in its stead. One would turn
| tho State over to the tender mercy Of
the creditors and the other would turn
| the creditors over to the tender mercy
| of the State.
Truth and sound policy will proba-
bly, bo found at soma intermediate
point between these extremes.
would suggest to the former that,
slough the refusal of the creditors to
accept the terms of the Biddleberger
act has DELAYED settlement. neither is
the act itself "dead,' nor are the peo-
pie Of Virginia who fixed that Is their
| Wfimotum dsad;, so that the creditors,
their agents, or attorneys can be IN
vited TO take out &tters Of administra-
ton on their estates. / would remird
them that under the operation Of that
act tho State is maintaining her govern
ment, her schools are III successful
operation. ind her asylums being sup
ported and ENLARGED, and 50 long rs the
people of the State continue to adhere
as firmly to the policy of not using
coupons ss they have done III the past
tho decisions of the United States
courts are "as dead as the ordinance of
secession or as last years cornstalks,
and that any increase OF principal or
interest necessarily involves increased
taxation, to which tho people OF the
rural districts, impoverished by war,
short crops, and the low prices OF agrl-
cultural products, viii never submit.
To those who favor its Abandonment
10 secure q lower settlement L would
suggest that the Riddleberger act was
accepted by IA large majority OF the
people because they believed il WAS a
rust and equitable settlement Of the
debt-ons within the ability of the
state to meet without laying an OPP
pressive burden of taxation upon her
people. IL this was true then It is still
true, and there is 40 principle of law
or ethics which would justify us now in
demanding to pay less. If the crsdi-
tors arc to be referred to the United
States for payment it must be on one
! OF two grosLds-eithsr because of the
conquest of the State by the Federal
armies, which carries with it she power
in the conqueror to tax the vanquished
10 reimburse himself for such amount
as under tho law of nstieRs he may be
required to pay to foreign Powers, or
because OF She rape of one third of the
territory of Virginia and the erection
Of another State within her limits a
robbery committed by tho sword but
under the forms of law aud
sustained by the Supreme Court OF the
United States. Most of us would pre-
fer to endure Bond and his decisions
for venrs to come rather than see the
| United States Government levying a
fax in Virginia to reimburse itself for
the amount paid tho British bondhold-
srs and as to the latter, in what forum
will either the State or her creditors
assert the claim 1t could be at best
but an appeal to the generosity OF the
Government on equitable grounds,
which would extend no further than
the ability OF the State to pay had been
Unmarried by her dismemberment, and
would. il admitted, in no degree re-
lieve the present State Of Virginia from
her liability for her equitable share.
All such suggestions lack one essential
slement-that of prscticability.
Iwould remind both of what, il
seems, they have forgotten, that al
every State election since 1879 the
principles Of the Riddleberger act have
been endorsed by the people. 1t was
only when the Democratic party &C
cepted that settlement and pledged it
self not to disturb it "by repeat OF
otherwise that it was restored tc
power; that its abandonment now
would be in violation of the pledges
which the party has repeatedly made,
| upt Ouif III IL fAtti'iu AbJ bub ny lbSio
lstive enactment a breach OF faith
which would receive, as it would merit,
the signal and swift rebuke Of . de.
csived people, whom it would launch
, again On the troubled SEES OF discussion
which proved 50 disastrous in many re
spects to the interests Of tho State IL
1879 and in 1881.
Again, how do they propose to pro
tect the treasury against the revenue
cut-worm, the self.exscuting coupon
while they are engaged in readjustine
the amount Of the debt according Il
their respective ideas? At present tins
coupons are practically harmless, not
withstanding the almost superhumar
efforts which have been made to force
them into the treasury. The victorious
bondholdeI are practically at TIT
mercy Of the people Of Virginia, aHt
} yet we are asked to surrender our van
/ tags ground. to abandon a policy which
, il il has not settled the debt, has re
lievsa the State, and for what?
Tn tbe one ease IN do what thc peO